Permian Basin Royalty Trust (NYSE:PBT) Reaches New 12-Month High - What's Next?

Key Points

• The Permian Basin Royalty Trust (NYSE:PBT) reached a new 52-week high of $17.07, signaling potential buying interest amid a trading volume of 53,426 shares.
• The company has recently improved its monthly dividend to $0.0164 per share, resulting in a 1.1% dividend yield, despite a decrease from the previous month’s $0.02 dividend.
• Institutional investors have significantly increased their stakes in the trust, with Advisory Services Network LLC and SoftVest Advisors LLC raising their positions by 327.9% and 40.1% respectively during the second quarter.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.07 and last traded at $16.93, with a volume of 53426 shares trading hands. The stock had previously closed at $16.76.

Permian Basin Royalty Trust Trading Up 1.4%

The firm has a market cap of $847.37 million, a PE ratio of 50.47 and a beta of 0.69. The company's 50-day moving average is $14.48 and its 200 day moving average is $11.86.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 EPS for the quarter. The business had revenue of $3.11 million during the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.0164 dividend. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 29th. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's payout ratio is currently 55.56%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer's stock worth $47,000 after buying an additional 1,304 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Permian Basin Royalty Trust by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after buying an additional 2,446 shares in the last quarter. Access Investment Management LLC purchased a new stake in Permian Basin Royalty Trust in the 2nd quarter worth approximately $64,000. Sunbelt Securities Inc. lifted its position in Permian Basin Royalty Trust by 7,352.9% in the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock worth $63,000 after buying an additional 6,250 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Permian Basin Royalty Trust during the 2nd quarter valued at $81,000. Hedge funds and other institutional investors own 28.86% of the company's stock.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.